NewEdge Advisors LLC Acquires 10,791 Shares of Schlumberger Limited (NYSE:SLB)

NewEdge Advisors LLC boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 25.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,950 shares of the oil and gas company's stock after purchasing an additional 10,791 shares during the period. NewEdge Advisors LLC's holdings in Schlumberger were worth $2,030,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB raised its position in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in Schlumberger by 32.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC raised its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in shares of Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after purchasing an additional 165,162 shares during the period. Finally, Narwhal Capital Management increased its position in shares of Schlumberger by 225.5% during the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company's stock worth $2,862,000 after buying an additional 51,715 shares during the period. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SLB. BMO Capital Markets lowered their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Stifel Nicolaus decreased their target price on Schlumberger from $59.00 to $58.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Evercore ISI reiterated an "in-line" rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.15.

Insider Transactions at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,647 shares of company stock worth $4,876,679 in the last ninety days. Company insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $34.60 on Wednesday. The company has a market capitalization of $47.05 billion, a PE ratio of 11.13, a PEG ratio of 10.10 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock's 50 day moving average price is $39.06 and its 200-day moving average price is $40.60. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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